Banach Wealth Management June 30, 2009 Letter
1st Half 2009 Markets Review
Credit (Financial) Depression Averted
Economic Recession Easing
Key Points
- First Half 2009 Total Returns
S&P 500 (919) 3%
US 10 Yr Bond (3.52%) -20%
NASDAQ (1835) 17%
Foreign (EAFE) Stocks 2% - U.S. GDP expected contraction -2.6%
- 2009 earnings expected decline -14%
- Stock markets likely hit bottom in March,
as the economic recession eased